TT International Asset Management LTD Sells 9,062 Shares of Pure Storage, Inc. (NYSE:PSTG)

TT International Asset Management LTD lowered its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 20.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,338 shares of the technology company's stock after selling 9,062 shares during the quarter. TT International Asset Management LTD's holdings in Pure Storage were worth $1,564,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC acquired a new stake in Pure Storage in the 4th quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB grew its holdings in Pure Storage by 55.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after buying an additional 233 shares during the last quarter. Crowley Wealth Management Inc. acquired a new stake in Pure Storage in the 4th quarter valued at approximately $31,000. FNY Investment Advisers LLC grew its holdings in Pure Storage by 5,233.3% in the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after buying an additional 785 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Pure Storage by 157.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock valued at $44,000 after buying an additional 436 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PSTG shares. Barclays decreased their price objective on Pure Storage from $61.00 to $57.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. Wedbush restated an "outperform" rating and set a $70.00 price objective on shares of Pure Storage in a research report on Thursday, May 29th. Morgan Stanley boosted their price objective on Pure Storage from $40.00 to $62.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Citigroup boosted their price objective on Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded Pure Storage from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $69.95.

Insiders Place Their Bets

In other news, insider John Colgrove sold 100,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the completion of the sale, the insider now owns 801,959 shares in the company, valued at $41,709,887.59. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Francis Murphy sold 11,234 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $55.13, for a total value of $619,330.42. Following the sale, the director now owns 21,930 shares of the company's stock, valued at approximately $1,209,000.90. The trade was a 33.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,083 shares of company stock valued at $6,150,676. 5.60% of the stock is currently owned by corporate insiders.

Pure Storage Trading Down 2.6%

PSTG stock traded down $1.36 during trading on Friday, hitting $51.51. The company had a trading volume of 5,726,591 shares, compared to its average volume of 2,944,870. The company has a market cap of $16.83 billion, a P/E ratio of 139.21, a P/E/G ratio of 4.92 and a beta of 1.05. The company has a fifty day moving average price of $50.58 and a two-hundred day moving average price of $56.03. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. The company had revenue of $778.49 million for the quarter, compared to analyst estimates of $770.03 million. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%. The business's revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Pure Storage Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.